Semtech (NASDAQ:SMTC) had its price objective hoisted by Needham & Company LLC from $50.00 to $55.00 in a report released on Thursday, MarketBeat Ratings reports. The firm currently has a buy rating on the semiconductor company’s stock.
SMTC has been the subject of a number of other reports. Roth Capital set a $45.00 price target on Semtech and gave the stock a buy rating in a report on Thursday, March 15th. BidaskClub downgraded Semtech from a sell rating to a strong sell rating in a report on Saturday, February 24th. Piper Jaffray Companies upgraded Semtech from a neutral rating to an overweight rating and set a $35.00 price target for the company in a report on Wednesday, April 4th. ValuEngine upgraded Semtech from a hold rating to a buy rating in a report on Tuesday, March 20th. Finally, Summit Insights upgraded Semtech from a hold rating to a buy rating in a report on Thursday, March 15th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Semtech presently has a consensus rating of Buy and a consensus price target of $53.44.
Semtech opened at $49.75 on Thursday, according to MarketBeat Ratings. The firm has a market capitalization of $3.39 billion, a P/E ratio of 43.03, a P/E/G ratio of 9.16 and a beta of 1.23. Semtech has a twelve month low of $31.30 and a twelve month high of $51.90. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.09 and a quick ratio of 3.51.
Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Wednesday, May 30th. The semiconductor company reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.01. The business had revenue of $151.90 million during the quarter, compared to the consensus estimate of $150.33 million. Semtech had a return on equity of 12.05% and a net margin of 6.44%. Semtech’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.44 earnings per share. sell-side analysts anticipate that Semtech will post 1.12 EPS for the current fiscal year.
In other news, SVP Asaf Silberstein sold 1,500 shares of the firm’s stock in a transaction dated Thursday, April 5th. The stock was sold at an average price of $40.50, for a total value of $60,750.00. Following the completion of the sale, the senior vice president now directly owns 42,876 shares in the company, valued at approximately $1,736,478. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Marc Pegulu sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, March 27th. The shares were sold at an average price of $41.00, for a total value of $82,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 295,324 shares of company stock valued at $14,397,807. Company insiders own 2.30% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP acquired a new stake in shares of Semtech in the 1st quarter valued at about $201,000. Miles Capital Inc. acquired a new stake in shares of Semtech in the 1st quarter valued at about $204,000. Verition Fund Management LLC acquired a new stake in shares of Semtech in the 1st quarter valued at about $215,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Semtech in the 1st quarter valued at about $232,000. Finally, Citigroup Inc. grew its stake in shares of Semtech by 40.5% in the 1st quarter. Citigroup Inc. now owns 6,241 shares of the semiconductor company’s stock valued at $243,000 after buying an additional 1,798 shares during the period. Institutional investors own 96.36% of the company’s stock.
Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. The company provides signal integrity products, including a portfolio of optical data communications and video transport products used in various enterprise computing, industrial, communications, and high-end consumer applications; and a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications.
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